Thanks ammo...
The index's are all at key areas so I would expect some technical pressure as shown today..The INDU even hit its W5=W1 I've been banging on about since last years thread
Nice fibs there Hook Shot!! Its also 261 cally days from the May the 8th SPX high...)
SPX needs to bust that last delta point low of 1420 to really get me full on the bear bus....
The index's are all at key areas so I would expect some technical pressure as shown today..The INDU even hit its W5=W1 I've been banging on about since last years thread
Nice fibs there Hook Shot!! Its also 261 cally days from the May the 8th SPX high...
)SPX needs to bust that last delta point low of 1420 to really get me full on the bear bus....
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stellarog said:
Hi stella the bounce did exactly what I wanted ........... but now leaves the picture 50/50 in terms of profit making - we have a stop for short players and a stop for longs .......... lovely low risk positioning
Looking forward to Friday .... but looking to get an early start by catching any asian induced moves....sleep is for wimps .... to paraphrase the famous film.Or was that a mixed meta sthg ?
Atilla
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Hook Shot said:Hi stella the bounce did exactly what I wanted ........... but now leaves the picture 50/50 in terms of profit making - we have a stop for short players and a stop for longs .......... lovely low risk positioning
Or was that a mixed meta sthg ?
The Dow is set up for a fall IMO. The MACD deviation on the daily charts coupled with the price having crossed the 20d MA confirms the fall. We might see a small bounce from 12500 to 12550 perhaps but it will drop back down.
I'm surprised at markets reaction to Microsoft results. The fall in revenue was not as bad. Oh well let's ignore the fall in revenue altogether then (considering markets and economy showed strong growth last year).
XBox sales lower, Vista sales kicking in late and Intel & AMD not doing too well either. This is a two way complimentary process. People upgrade hardware based on improved performance and new technology and so MS gets to sell it's licence. Also, people buy new hardware if there is new Software development like Microsofts Windows 98 or XP as in the past. However, when there are negligable improvements in tech developments no point in upgrading software or hardware.
My gut instinct based on what there is to offer will not lead to these industries increasing their sales or revenue by much at all.
FetteredChinos
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not today DC.. 7th Feb or thereabouts for the drop to start..
I'm leaning in the bear camp,not massively just to complete a wave 4 as shown on that OEX chart.
The pattern on the SPX favours a higher point MTD has come in....The alt view is that another we in another a-b point formation but this time on the MTD, but the odds but it less than 30%..
A clean break of that 1420 will indicate the MTD is in...
The pattern on the SPX favours a higher point MTD has come in....The alt view is that another we in another a-b point formation but this time on the MTD, but the odds but it less than 30%..
A clean break of that 1420 will indicate the MTD is in...
